Best Online Stock Broker for a Beginner
Beginner traders have a lot to think about when it comes to choosing a broker. It’s vital to pick one that has a low barrier to entry, easy onboarding, and an account aimed at less-experienced traders. Integrated education and training can also be desirable features, as can a risk-free demo account. Check out our list of the best online stock brokers for beginners.
OctaFX Stock Trading
OctaFX provides easy stock trading for new traders, with tight spreads, from just 0.2 pips, and a low minimum deposit of just $50. This broker provides a Micro account, aimed at novice traders, which is quick and easy to open, and runs on the highly intuitive MetaTrader 4 software. OctaFX offer fast execution with no slippage, negative balance protection, and a risk-free demo account. There is also the option to participate in copy trading, which is always popular with newer traders. With no commissions on deposits, withdrawals or currency exchange, and a comprehensive education and training section, this broker is a great choice for new stock traders. Read our full review here.
Fidelity Stock Trading
Fidelity is also a good choice for new traders, with transparent, low-cost trading, spreads from just 0.9 pips, and leverage of up to 1:25 on stocks. This broker provides generous deposit protection, excellent, 24/7 customer service, and a comprehensive education and research section. The onboarding process is quick and straightforward, and even less experienced traders will find the platform very easy to navigate. A low minimum deposit of just $10 is another thing that makes this broker an attractive choice for new stock traders. Read our full review here.
Pepperstone Stock Trading
Pepperstone is another broker offering a very transparent and reasonable pricing model. Their Edge Standard account is commission-free, with spreads from 1 pip, and access to the award-winning MT4 platform. With Pepperstone it is possible to trade shares as CFDs with a minimum 0.01 lots trading size, and leverage of up to 30:1. The broker offers fast order execution, an excellent education portal, and high-quality customer service. Pepperstone have won various awards, including both Best Tailored Professional Trading Conditions, and Best Client Relationship Manager Service, at the 2019 Professional Trader Awards. Read our full review here.
XM Stock Trading
XM cater to the less experienced stock trader, offering an easy, online account opening process, with a minimum deposit of just $5. They provide negative balance protection, deposit protection and some excellent and engaging education and research materials. The MT4 and MT5 platforms offer a variety of features, including automated trading, and there is a free demo account, available for an unlimited amount of time. Read our full review here.
eToro Stock Trading
eToro is a popular online multi-asset broker, offering up to 1:30 leverage on stocks, along with competitive fees, deposit protection, and easy onboarding. This broker is known for its innovative and popular social trading platform, which makes it very attractive to new traders, as does its risk-free demo account. Read our full review here.